Job Description
Position: PO Approval& Cost control Manager
Department: Finance & Accounts
Location: Erode
Reporting To: Vice President – Finance
Role Overview
The Accounts – PO Approval Manager is responsible for the effective review, validation, cost evaluation, and approval of purchase orders (POs) in alignment with approved budgets, vendor terms, and internal financial controls.
This role plays a critical part in ensuring cost discipline, accurate cost estimation, compliance, and financial control across procurement transactions while supporting management with insights on spending efficiency and cost optimization.
Key Responsibilities
1. Purchase Order Review, Costing & Approval
- Evaluate and approve purchase orders raised by various departments.
- Ensure each PO is supported by proper cost estimation and justification before approval.
- Validate quantities, pricing, taxes, and commercial terms for accuracy.
- Ensure all approvals are aligned with standard approval processes and authority matrix.
2. Cost Control & Monitoring
- Implement and monitor cost control mechanisms across all procurement activities.
- Track and control costs to prevent overspending and budget leakage.
- Continuously monitor PO values against budget allocations and operational requirements.
- Identify cost-saving opportunities and support cost optimization initiatives.
3. Financial Control & Compliance
- Enforce adherence to company financial policies, approval hierarchy, and audit requirements.
- Prevent unauthorized, excessive, or non-compliant spending.
- Ensure compliance with GST, statutory regulations, and internal audit standards.
4. Budget Monitoring & Cost Validation
- Track department-wise budgets against committed and approved POs.
- Validate fund availability prior to PO approval.
- Analyze budget vs. actual spend and highlight variances.
- Escalate deviations and provide recommendations for corrective actions.
5. Vendor & Pricing Validation
- Review vendor quotations and ensure competitive and market-aligned pricing.
- Coordinate with Procurement for rate comparisons, cost benchmarking, and negotiation support.
- Ensure vendor selection adheres to company policies and approved standards.
6. Standard Approval & Process Governance
- Ensure all POs follow standardized approval workflows and documentation practices.
- Strengthen internal controls by maintaining uniform approval procedures.
- Recommend process improvements to enhance approval efficiency and control.
7. Cross-functional Coordination
- Work closely with Procurement, Stores, Production, and Finance teams.
- Resolve discrepancies in PO details, costing, or vendor information before approval.
- Provide insights on spending patterns and cost trends to management.
8. MIS, Reporting & Audit Support
- Generate reports on PO approvals, costing trends, pending requests, and deviations.
- Prepare monthly MIS on procurement expenses vs. budget and cost performance.
- Support internal and external audits by providing required documentation and analysis.
Key Skills & Competencies
- Strong expertise in costing, cost control, and procurement finance
- In-depth knowledge of accounts payable, GST, taxation, and compliance
- Ability to perform cost estimation, variance analysis, and cost monitoring
- Strong analytical thinking with high attention to detail
- Proficiency in ERP systems (SAP / Tally / Oracle) and advanced Excel
- Strong communication and stakeholder management skills
Qualifications
CA – Inter / CMA ,ACS Final
Experience Requirement
- 5–10 years of experience in Accounts / Finance
- Preferably from Manufacturing / Textile Industry
- Hands-on experience in PO approvals, cost control, and procurement finance processes
Preferred Exposure
- Experience in cost estimation models and standard costing practices
- Exposure to multi-unit operations and high-volume transaction environments
- Experience working with senior management for financial approvals and control
Key Performance Indicators (KPIs)
- Accuracy and timeliness of PO approvals
- Effectiveness of cost control and cost monitoring mechanisms
- Adherence to budget and financial compliance
- Reduction in unnecessary or excess spending
- Accuracy of cost estimations vs. actuals
- Successful audit compliance with minimal discrepancies
Pay: ₹30,231.74 - ₹58,463.60 per month
Benefits:
- Food provided
- Provident Fund
Work Location: In person
